VeriSign, Inc. (NASDAQ:VRSN) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC grew its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 208.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,193 shares of the information services provider's stock after buying an additional 2,159 shares during the quarter. Procyon Advisors LLC's holdings in VeriSign were worth $811,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in VRSN. Norges Bank acquired a new stake in VeriSign in the fourth quarter valued at approximately $222,840,000. GAMMA Investing LLC increased its position in shares of VeriSign by 34,326.0% in the 1st quarter. GAMMA Investing LLC now owns 697,127 shares of the information services provider's stock valued at $176,980,000 after purchasing an additional 695,102 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of VeriSign in the 4th quarter valued at approximately $141,129,000. Point72 Asset Management L.P. raised its holdings in shares of VeriSign by 268.8% in the 4th quarter. Point72 Asset Management L.P. now owns 692,498 shares of the information services provider's stock valued at $143,319,000 after purchasing an additional 504,748 shares in the last quarter. Finally, Berkshire Hathaway Inc lifted its position in shares of VeriSign by 3.6% during the 4th quarter. Berkshire Hathaway Inc now owns 13,271,457 shares of the information services provider's stock worth $2,746,661,000 after purchasing an additional 455,844 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

Insider Buying and Selling at VeriSign

In other VeriSign news, SVP John Calys sold 400 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $281.97, for a total value of $112,788.00. Following the completion of the sale, the senior vice president now owns 23,335 shares in the company, valued at approximately $6,579,769.95. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yehuda Ari Buchalter sold 600 shares of VeriSign stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $283.79, for a total transaction of $170,274.00. Following the completion of the transaction, the director now directly owns 3,735 shares in the company, valued at $1,059,955.65. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,002 shares of company stock worth $2,525,659 over the last 90 days. Corporate insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wall Street Zen raised VeriSign from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. Robert W. Baird lifted their price target on VeriSign from $275.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, April 25th.

VeriSign Stock Up 2.6%

Shares of VRSN opened at $285.02 on Friday. The company has a market capitalization of $26.76 billion, a price-to-earnings ratio of 35.63 and a beta of 0.77. VeriSign, Inc. has a 52-week low of $172.49 and a 52-week high of $288.95. The stock has a 50 day moving average price of $266.20 and a 200 day moving average price of $234.02.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.10. The business had revenue of $402.30 million during the quarter, compared to analysts' expectations of $400.44 million. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%. The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 EPS.

VeriSign Announces Dividend

The business also recently disclosed a -- dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were paid a $0.77 dividend. The ex-dividend date of this dividend was Monday, May 19th. VeriSign's dividend payout ratio is presently 37.65%.

About VeriSign

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.

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